The Evansville City Council has unanimously approved funding for the “complete street” project on North Main Street.
The City Council ruled that the project’s cost should not exceed $16.75 million. Metro Development Director Kelly Coures says he doesn’t believe the full amount will be needed.
The renovation includes a protected bicycle path from Division Street to Garvin Park, along with streetscape improvements and a new parking design.
Tax Increment Financing in the Jacobsville neighborhood will pay off the bonds.
Construction is expected to cost about $13.5 million. Other costs include Vectren's expense to bury utility lines, bond counsel, and a contingency fund for unexpected issues.
The City Council vote was 9-0. Councilman Dan Adams voted against the project during a finance committee hearing, because its cost had increased from earlier estimates. But Adams voted for the project on the final vote.